Property Appraisal Preparation Checklist

Occupancy drives access logistics, lease-disclosure obligations, and how the appraiser handles the income approach. Confirm with the seller before scheduling — tenant-occupied properties need 24-hour notice in most states.

Pull the recorded deed, the title commitment from escrow, and any survey on file. Flag easements, encroachments, or shared driveways — appraisers will note these and they can affect value adjustments.

Pull the most recent assessment notice and the last two years of paid tax bills from the county. If the assessed square footage differs from the MLS, note the discrepancy and the source you'll defend (appraiser sketch, builder plans, or prior appraisal).

Provide the current lease, any addenda, and a rent roll showing actual collected rent versus market rent. The appraiser uses this for the income approach on 2-4 unit properties and as a comp adjustment on single-family rentals.

Order the HOA estoppel through the management company. Include monthly dues, special assessments, master-policy coverage, and any pending litigation. Lender underwriting and the appraiser both want this — late delivery is a common closing-delay cause in CA, FL, and VA.

Walk the seller through every meaningful improvement: roof, HVAC, kitchen, baths, windows, electrical panel, water heater. Capture year, scope, and approximate cost. Appraisers credit dated, documented improvements; verbal claims rarely move the number.

Search the municipal permit portal for additions, finished basements, decks, and pools. Unpermitted square footage is the most common reason an appraiser refuses to credit GLA — if a finished basement was never permitted, the appraiser may exclude it from gross living area entirely.

Pull receipts and transferable warranties: roof, appliances, HVAC, foundation, termite bond. These support cost-approach adjustments and reassure the appraiser that work was professionally done rather than DIY.

Use comps closed in the last 90 days, within a half-mile, similar GLA (within 20%), same school zone, same construction era. Note any sale concessions or seller credits that distort the closed price — the appraiser will adjust for them and so should you.

Pendings show market velocity but aren't usable as closed comps. Include them in the packet anyway with a short note — they help the appraiser see momentum that closed sales from 60 days ago don't reflect.

Note positive factors (corner lot, cul-de-sac, school boundary, view) and external negatives (adjacent commercial, power lines, busy street). Avoid any language that touches a fair-housing protected class — describe physical attributes, not neighborhood demographics.

Coordinate with the listing agent, seller, and any tenants. Tenant-occupied properties need 24-hour written notice in most states. Confirm lockbox access or plan to be on-site to let the appraiser in.

Clean, lights on, all rooms accessible, attic and crawlspace cleared. Pets crated or removed. Clear photos of finished basements and additions matter — appraisers photograph everything and underwriters review the photos.

Hand the appraiser a printed packet: improvements list with dates and costs, permit pulls, three to five comps with notes, and your contact card. Don't pressure — appraisers are independent under Dodd-Frank — but make it easy for them to see what you see.

Compare the appraised value to the contract price the moment the report comes back. The financing contingency expiration is calendared from the contract date — don't let the contingency lapse while debating next steps.

Submit the ROV through the lender's AMC portal — direct contact with the appraiser violates Dodd-Frank appraiser independence. Include two or three additional closed comps the appraiser missed, with adjustments, and any factual errors in the report (square footage, bed/bath count, condition rating).

Four paths: buyer brings the gap in cash, seller reduces price, parties split the difference, or the deal terminates under the appraisal contingency. Coordinate with the lender on revised LTV — a price reduction may also reduce the down-payment requirement and reset the Closing Disclosure 3-day clock.